The RNA Analysis/Transcriptomics Market is Projected to Reach USD 8.7 Billion by 2025 from USD 4.5 Billion in 2020, at a CAGR of 13.9%
The growth of this market is majorly driven by the increasing demand for personalized medicine, increasing pharmaceutical and biotechnology R&D expenditure and government funding for omics, and the increasing applications of RNA sequencing in the transcriptomics market.
The increasing focus on biomarker discovery and toxicogenomics, along with the increasing interest in outsourcing services, is expected to offer significant growth opportunities for the players operating in the global RNA analysis/transcriptomics market. On the other hand, the requirement of high capital investments and data management issues are expected to restrain the growth of this market to a certain extent.
Based on product, the reagents/consumables segment holds the largest market share during the forecast period.
Based on product & service, the RNA analysis/Transcriptomics market is segmented into reagents/consumables, instruments, software, and services. The reagents/consumables segment accounted for the larger market share in 2019. The increasing demand for high-quality reagents and the repeated use of media and reagents in transcriptome studies. Additionally, the growing R&D activities in the pharmaceutical industry, growing government investments in the field of life science research, and the increasing research being undertaken with integrated omics studies are contributing to the market for consumables.
Based on technology, the sequencing technologies segment is expected to register the highest CAGR during the forecast period.
Based on technology, the RNA analysis/transcriptomics market is segmented into microarrays, PCR, sequencing technologies (Sanger sequencing and NGS technologies), and RNAi (gene silencing). The sequencing technologies segment is expected to witness the highest growth during the forecast period. RNA sequencing allows direct access to sequences of mRNA and is an equitable technology, which makes it more suitable for target identification and drug discovery applications. RNA sequencing also helps to overcome several issues associated with microarrays, such as bias and variation due to hybridization and labeling efficiencies. Technological advancements in this segment are further set to drive market growth.
The drug discovery segment is expected to account for the largest share of the RNA analysis/transcriptomics market in 2019.
The drug discovery segment accounted for the largest share of the market in 2019. This is attributed to the use of transcriptomics in drug discovery for target identification and validation, identification of efficacy and toxicity biomarkers from biological fluids, and investigation of drug action and toxicity mechanisms. The growing need to study a large number of genes to gain a better understanding of gene-to-drug interactions is further expected to drive the use of transcriptomic technologies in drug discovery applications.
CROs end user segment is expected to grow at the highest CAGR in the RNA analysis/transcriptomics market during the forecast period.
Based on end user, the RNA analysis/transcriptomics market is segmented into academic & research institutes, pharmaceutical & biotechnology companies, hospitals & diagnostic centers, and contract research organizations. The contract research organizations (CROs) segment is expected to witness the highest growth during the forecast period. CROs provide affordable outlets for companies and academia to pursue new medicines and offer a cost-effective solution to developing drugs. They also support foundations, research institutions, and universities, in addition to government organizations, such as the NIH and EMA. These factors are driving the growth of this segment.
North America is expected to account for the largest share of the RNA analysis/transcriptomics market in 2019.
In 2019, North America accounted for the largest share of the RNA analysis/transcriptomics market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of this market segment can be attributed to the increasing development of structure-based drug designs, growing academic and government investments in genomics and proteomics research, high life science research funding, high biopharmaceutical R&D expenditure, and the greater adoption of advanced technologies in North America. The presence of a large number of global players in this region is another key factor contributing to the large share of this market segment.
Increasing Demand for Personalized Medicine
Increasing Pharmaceutical and Biotechnology R&D Expenditure and Government Funding
Growing Applications of RNA Sequencing in Transcriptomics